Fora Financial

Please find Fora Financial’s formal response to complaint # ***, a complaint from *** ***, below Should you have any questions, comments or concerns please don’t hesitate to reach me immediately:“We regret that *** *** had a less than satisfactory experience with us - Our goal is
100% customer satisfaction While we strive to disburse funds to approved customers in a timely manner, customers are reminded that delays can occur for a number of reasons, including the receipt of new or additional financial information that materially changes the pre-approval Our investigation confirmed that newly received financial information required additional underwriting, which ultimately delayed the disbursement of funds *** *** and his business were ultimately funded by us on March *** and all issues mentioned in *** ***’s complaint dated March **, have since been resolved We thank him for his business, apologize for any inconvenience that the additional underwriting time may have caused, and we look forward to serving his small business financing needs in the future.”

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
[redacted]

Fora Financial is in receipt of your April **, 2016 complaint to The Revdex.com (ID [redacted]). Fora Financial takes complaints of this nature seriously and has conducted a thorough review of this matter. Our records indicate that we received and processed your request to be removed...

from our marketing list on April **, 2016. Please be advised that you have been placed on our Do Not Contact list and will not be receiving any further mail, telephone calls, or e-mails from Fora Financial. We hope this response has addressed your concerns and now consider this matter closed. If you would like to discuss this matter further, feel free to contact our Vice President of Marketing at ###-###-####, ext. [redacted], or by email at [redacted]

Dear [redacted]: Fora Financial is in receipt of your complaint dated May **, 2016. Please be advised that Fora Financial takes complaints of this nature seriously and has conducted a thorough review of this matter, the results of which are detailed below. In your letter, you alleged that Fora...

Financial sent you marketing mail on several occasions this year. Our records indicate that we received your request to be removed from our mailing list and we processed your request on May **, 2016. You will no longer receive any marketing mail moving forward.  We hope this response has address your concerns and now consider this matter closed.

Re: Complaint ID [redacted] Please be advised that [redacted] takes every complaint seriously and makes every effort to reach a mutually agreeable resolution to a dispute or complaint. Please visit our Complaints Handling Policy in the footer of our home page at [redacted] , where...

it is available for review by the public. Regarding the compliant submitted by [redacted] of [redacted], we have examined the invitation to apply (which included a promotional, non-negotiable check image) that was sent to the complainant. The promotional, non-negotiable check image reads, “This is NOT an actual check.” While we apologize for any confusion, the promotional, non-negotiable check image does indicate that the recipient must meet additional qualifications, namely submission of a formal application, approval and formal acceptance of any offer from [redacted]. [redacted] indicated in his complaint, “I call the company and they said since I don’t make $10,000.00 a month I cannot get a loan.” Though we use reliable sources to determine who receives our offers, the information provided by third parties cannot take the place of verifiable financial information provided by the applicant. We are often unable to verify cash flow until a merchant speaks with one of our sales representatives, granting us permission to perform underwriting due diligence on the business and business owners. We will remove the contact information of both [redacted] and his business, [redacted], from our marketing database and he nor his business will receive any further mail solicitations or invitations to apply from [redacted]. Should there be any further questions on this matter, [redacted] is welcome to contact a member of [redacted]’s [redacted] directly by dialing ###-###-####, extension [redacted], Monday – Friday, between 9:00 am and 6:00 pm EST or by email at [redacted]. We apologize again for any confusion and hope this information helps to clarify and resolve this matter.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

 You were advised before I did any application that I did not want my credit provided and I still have the emails and text messages with your sales person, you are using a basic template for your reply which is un acceptable, you also did not return any emails or phone calls to your company and have only responded to this as you dont want the Revdex.com to give you a lower rating, as previously mentioned I want a appology letter from your company to explain to any future credit funders of why my credit was shopped around and affected my credit score without my permission, if you were truely a honest company this would be no issue what so ever for you as it costs you nothing, I would like to ask the Revdex.com to step in on this request as well as there is no reason that this cannot be compelted
 
 
 
In order for the Revdex.com to appropriately process your response, you MUST answer the question above.
Sincerely,
[redacted]

Fora Financial is in receipt of complaint ID [redacted]. Please be advised that we take complaints of this nature very seriously.  We have investigated this matter, which included, but was not limited to, a review of email communications, the loan file at issue and discussions with internal Fora...

Financial personnel. Contrary to the complainant’s allegations, no one at Fora Financial threatened, harassed or otherwise treated the complainant in a discourteous manner.  The Company considers these allegations to be baseless. Per our review, the complainant previously received funding from Fora Financial.  The complainant satisfied the loan on or about March *, 2017.  In or about the end of February 2017, the complainant advised [redacted], Fora Financial's Portfolio Performance Manager, that he wanted a prepayment discount in the amount of $20,000.  [redacted] advised the complainant that he was not eligible for the prepayment discount due to a breach of the Business Loan and Security Agreement.  Notwithstanding, and merely as a customer accommodation, Fora Financial offered the complainant a partial discount, which the complainant did not accept.  However, the complainant continues to be dissatisfied and is seeking additional funds to which their business is not entitled. Based on the foregoing, we have found no wrongdoing on the part of Fora Financial or any of its employees.  We are, therefore, respectfully denying the complainant’s claims for additional payment of the prepayment discount, and any other demands or damages the complainant may claim in this matter.

Dear [redacted] Thank you for taking the time to speak with me and Iapologize for the misunderstanding that you had with one of our trustedpartners.  Our partners are an extensionof our brand and as such, we expect them to provide the same outstanding levelof customer service that we...

provide.  On June[redacted], I contacted [redacted] at Fast Business Funding, the partner to whichwe forwarded your application and who provided your small business financing,and he indicated that he would be more than happy to provide you with a payoffamount as well as documentation reflecting the amount that you’ve paid-in thusfar.  Also on June [redacted], Iprovided his telephone number to you and am providing it here again; [redacted].  As we were not a party to yourtransaction with Fast Business Funding, Fora Financial does not have anyinformation regarding your transaction with them.  Should you have any further questions,comments or concerns, please don’t hesitate to reach me at ###-###-####,extension [redacted].

My name is [redacted] and I am the [redacted]
[redacted] and Compliance for [redacted].  On behalf of the organization, please acceptmy sincerest apologies for the inconvenience. After researching the matter, we discovered a duplicate entry in oursystem for your business. ...

I haveconfirmed that the duplicate entry has been deleted and you will no longerreceive any communications from us. Should you have any questions, comments or concerns please don’t hesitateto contact me at ###-###-####, extension [redacted], or by email at [redacted].

Fora Financial has a signed application by [redacted] that authorizes Fora Financial, its representatives, successors, assigns and designees ("Recipients") to obtain investigative reports and other information about the applicant including credit card processor statements, bank statements,...

and reports from consumer reporting agencies such as T[redacted] and [redacted], credit bureaus, banks, creditors and other third parties. Also the written authorization allows Fora Financial to transmit the application and any related information to other creditors and financial institutions that may partner with Fora Financial on business loans/merchant cash advances. As part of its underwriting process, Fora Financial did a soft pull inquiry on [redacted]'s credit. Upon receiving this complaint, Fora Financial requested its partners to remove their hard pull inquiries.

Please be advised that Fora Financial is in receipt of your complaint to the Revdex.com. Fora Financial takes complaints of this nature seriously and has conducted a thorough investigation of this matter, which included reviewing the documentation you submitted to us and obtaining...

information from the Fora Financial Capital Specialist with whom you dealt in an effort to obtain working capital for your business.As an initial matter, we strive to provide our customers with the utmost in service and apologize if you feel we did not do so in this instance. Our records reflect that you initially spoke with our Capital Specialist on April **, 2016 and subsequently completed and signed a Fora Financial Qualification Application (“Application”) on May **, 2016. In signing this Application, you authorized the verification of information through credit bureaus and other sources as needed by Fora Financial and its representatives, successors, assigns and designees (“Recipients”), as well as the transmission of your Application to third parties, in connection with evaluating you for credit. Our Capital Specialist does not recall you stating that you did not want to be considered for funding by lenders other than Fora Financial. Ultimately, you were successful in obtaining working capital through another lender to whom Fora Financial submitted your application (please note that this lender is not a "sister company" of Fora Financial, nor do we refer to other lenders in that way).In light of the above, Fora Financial was authorized by you to submit your Application to other lenders and make credit inquiries in connection with your Application. Therefore, while we regret your dissatisfaction, we will be taking no further action in relation to this matter.If we can be of further assistance, please contact Fora Financial Customer Service at ###-###-####.

Review: Paramount Merchant Funding keeps sending me letters on the envelope it states IMPORTANT NOTICE REQUESTING IMMEDIATE ACTION. With a warning $2,000.00 fine or 5 yrs imprisonment, inside is a mock check for $150,000.00 and of course I have already been approved, just contact them with my approval code. Tired of receiving this mail I called to request for them to take me off their list and to stop sending this mail to me.The guy that answered says hi this is [redacted] no acknowledgement of business name after my request his response is yea sure and hangs up on me.Desired Settlement: Research this business to make sure that they are who they claim to be or is this just another scam to ruin people's lives

Business

Response:

Hello [redacted],

Review: Fora Financial approached me for a business loan. I was hesitant but certain John D[redacted] assured me that they will do just a soft pull on my credit and that they need my bank statements, application and I will get the rate without obligations. I have excellent credit score- a result of care and responsibility for years.

Fora disseminated my sensitive info to many companies, who started calling me like mad, wanting my business with all kind of legitimate and illegitimate offers. I say illegitimate, because I had to file another complaint against [redacted], who got my info from Fora, and made a Hard pull Inquiry against my credit report.

Because of this dissemination of my info by Fora, I incurred 3 hard pulls in 2 days, which lowered my credit score for 15 points as that is a part of the scoring system: if many lenders check your score in hard pull, it leaves a record that suggests desperate need for $- which lowers the lend-ability and score.

3 credit pulls in 2 days- and I was assured I will get none, by John D[redacted] at Fora. What a swindling action. Now I have to wait 2 years for them to clear, and may even get many more hard pulls against me.

This is totally unprofessional and deceptive to promise in a phone conversation one thing and do another by action.

I will also take Court action against Fora and John D[redacted]. I have been spending 2 entire days to get out of this- and it gets worse- since my most sensitive info floats around in shady predatory companies.

Do not do any business with Fora Financial (or their associate [redacted]) if you are self-respecting person responsible with your finance - and do not want to see hell.

John D[redacted] at Fora Financial NY is a smooth, predatory deceptive lier who will stop at nothing to make a [redacted] buck.

I am looking at litigation options for all this hell and damages Fora Financial, NY and John D[redacted] at Fora Financial NY have incurred.

Cordially, **Desired Settlement: The 3 Hard Pulls have to be taken from my credit report and I must be reimbursed for days of trying to control/minimize damage. In addition, I am/was planning to buy a car and get another loan- and have consequential damage from the inability to get it or get it at a higher interest rate and higher fees because of lowered credit score (incurred by Fora's irresponsible dissemination of my most sensitive info).

My sensitive info at Fora must be destroyed and any further dissemination of my info MUST BE STOPPED!

Business

Response:

Fora Financial has a signed application by [redacted] that authorizes Fora Financial, its representatives, successors, assigns and designees ("Recipients") to obtain investigative reports and other information about the applicant including credit card processor statements, bank statements, and reports from consumer reporting agencies such as T[redacted] and [redacted], credit bureaus, banks, creditors and other third parties. Also the written authorization allows Fora Financial to transmit the application and any related information to other creditors and financial institutions that may partner with Fora Financial on business loans/merchant cash advances. As part of its underwriting process, Fora Financial did a soft pull inquiry on [redacted]'s credit. Upon receiving this complaint, Fora Financial requested its partners to remove their hard pull inquiries.

Review: I applied for, and was approved for, an operating capital loan through Fora Financial for my business, [redacted]. I was guaranteed on multiple occasions that the funds would be distributed no later than today, March[redacted], 2015. Based upon those guarantees, I borrowed money from a family member with the promise that it would be paid back today. I have been on the phone with Fora Financial on and off since 9am this morning. I was continually assured that the money would be disbursed by no later than 3:30 pm today. Around 1pm, I received a call from them stating that the money would not be available until tomorrow. I have been on the phone back and forth since, with supervisors and managers. All are telling me that a mistake was made and that I shouldn't have been promised that I would receive the money today. I could wait until tomorrow save for the following mitigating factors: 1. I promised my sister that she would be paid back in full today, without question. 2. I am leaving the state to attend a wedding at 6am tomorrow and will not be in [redacted] to attend to my banking and bills. 3. They are holding my merchant services from the weekend, totaling nearly $3000, in a "lockbox" until tomorrow. So not only will I not receive the promised funding today, but the money my family and I would normally live on, i.e. the merchant services, is being held hostage.Desired Settlement: I want nothing more than what I was promised, which is to receive the loan that was agreed upon by 4pm today. At the very least I need the money from my merchant services today so I can take my daughter to the doctor and make a good faith payment to my sister.

Business

Response:

Please find Fora Financial’s formal response to complaint # [redacted], a complaint from [redacted], below. Should you have any questions, comments or concerns please don’t hesitate to reach me immediately:“We regret that [redacted] had a less than satisfactory experience with us - Our goal is 100% customer satisfaction While we strive to disburse funds to approved customers in a timely manner, customers are reminded that delays can occur for a number of reasons, including the receipt of new or additional financial information that materially changes the pre-approval. Our investigation confirmed that newly received financial information required additional underwriting, which ultimately delayed the disbursement of funds. [redacted] and his business were ultimately funded by us on March [redacted] and all issues mentioned in [redacted]’s complaint dated March **, 2015 have since been resolved. We thank him for his business, apologize for any inconvenience that the additional underwriting time may have caused, and we look forward to serving his small business financing needs in the future.”

Review: They call our office on a daily basis and I have told them that we are not interested in thier service and to take us off their list. They still continue to call us daily and hang up on my staff when they say that we arent ineterested or that Im not available. I wouldnt use this company EVER based on how they treat people on the phone.Desired Settlement: I would like them to remove our name from their list and not to ever call us again. I would also hope they do not treat prospective clients ever like this.

Business

Response:

Dear [redacted],

In regard to complaint [redacted] , Fora Financial would like to let [redacted] know that she has been removed from our mailing list. We apologize for any rudeness she and her staff may have experienced. Fora Financial respects all potential customers and understands that not everyone is interested in our product. We base our reputation on customer service and establishing good working relationships with our clients. Our sales department will be made aware of this experience.

Thank you.

Review: Our company paid off a loan provided by Fora Financial. Upon doing so, the company still ACH drafted five (5) additional daily payments of $154.74 each for a total of: $773.70. Once our loan payoff was processed, Fora Financial proceeded to refund our overpayment, however, they shorted our refund by one (1) payment and only refunded $618.96.Desired Settlement: A refund of $154.74 from Fora Financial.

Business

Response:

Fora

Financial is in receipt of the Complaint ID: [redacted] dated 7/**/15. The

complaint alleges that Fora Financial drafted five (5) payments of $154.74 each

for a total of $773.70 in excess of a loan payoff.

We

take allegations and complaints of this nature seriously and we have conducted

an internal investigation on this matter. Upon information and belief, we

properly refunded all amounts due to the merchant. In addition, this letter

shall serve as confirmation that our Customer Service department reached out to [redacted] and this matter has been resolved. Fora Financial has

forwarded a zero-balance letter to the merchant.

Thank

you for your time and consideration.

Review: I received a letter in the mail saying I was pre-approved for a loan with a fake check for $150,000.00. I call the company and they said since I don't make $10,000.00 a month I cannot get a loan. So I asked why the letter said I was pre-approved. They said ask out marketing department (I have had the same response from other letters like this). This time I asked to be transferred to the marketing department and he hung up. So I called back and asked for a [redacted]. The guy on the phone says he is a [redacted]. So I asked him why the letter says pre-approved and he also said it was marketing that did that. They look at an area and go with what the general income of store in the area. I said that does not matter to me. It says "APPROVAL STATUS: PRE-APPROVED". He then started back tracking and saying that Pre-Approved means I was approved to get the letter not a loan. I asked to speak to his [redacted] and he said there was no there. I then notified I would contact the Revdex.com.Desired Settlement: I get the identical letter every month usually with a different company name on it. I wish they would be shut down for good and stop lying to businesses. I can send you a copy of the letter.

Pre-approval should be just that. I would liked to have a $10,000.00 loan, but they are liars.

Business

Response:

Re: Complaint ID [redacted] Please be advised that [redacted] takes every complaint seriously and makes every effort to reach a mutually agreeable resolution to a dispute or complaint. Please visit our Complaints Handling Policy in the footer of our home page at [redacted] , where it is available for review by the public. Regarding the compliant submitted by [redacted] of [redacted], we have examined the invitation to apply (which included a promotional, non-negotiable check image) that was sent to the complainant. The promotional, non-negotiable check image reads, “This is NOT an actual check.” While we apologize for any confusion, the promotional, non-negotiable check image does indicate that the recipient must meet additional qualifications, namely submission of a formal application, approval and formal acceptance of any offer from [redacted]. [redacted] indicated in his complaint, “I call the company and they said since I don’t make $10,000.00 a month I cannot get a loan.” Though we use reliable sources to determine who receives our offers, the information provided by third parties cannot take the place of verifiable financial information provided by the applicant. We are often unable to verify cash flow until a merchant speaks with one of our sales representatives, granting us permission to perform underwriting due diligence on the business and business owners. We will remove the contact information of both [redacted] and his business, [redacted], from our marketing database and he nor his business will receive any further mail solicitations or invitations to apply from [redacted]. Should there be any further questions on this matter, [redacted] is welcome to contact a member of [redacted]’s [redacted] directly by dialing ###-###-####, extension [redacted], Monday – Friday, between 9:00 am and 6:00 pm EST or by email at [redacted]. We apologize again for any confusion and hope this information helps to clarify and resolve this matter.

Review: I HAVE BEEN GETTING CALLS FROM [redacted] FOR SEVERAL MONTHS. I HAVE ASKED THEM NUMEROUS TIMES TO REVOVE MY NUMBER FROM THEIR DATABASE AND STOP CALLING ME. THEY HAVE REFUSED AND CONTINUE TO REFUSE TO STOP CALLING. I HAVE PASSED ALONG MESSAGES TO THE ALLEGED FLOOR SUPERVISOR NAMED '[redacted]'.

Business

Response:

My name is [redacted] and I am the [redacted]

[redacted] and Compliance for [redacted]. On behalf of the organization, please acceptmy sincerest apologies for the inconvenience. After researching the matter, we discovered a duplicate entry in oursystem for your business. I haveconfirmed that the duplicate entry has been deleted and you will no longerreceive any communications from us. Should you have any questions, comments or concerns please don’t hesitateto contact me at ###-###-####, extension [redacted], or by email at [redacted].

Review: I contacted Fora Financial in December of last year. [redacted] helped me get a $10,000 loan for my business. We talked daily and got everything into place quickly. I had some issues with the contract but he assured me everything as fine and safe and to sign so I could get funded. They took out fees immediately and then $199 every business night until paid off. Working out to be over $16,000 paid back. I called in May and sent multiple emails asking for help or an extension as I needed help. I was transferred around and given a lotof different phone numbers and anytime I mentioned "Fora Financial" the representative would transfer me again. I finally was given a number to a woman named [redacted] ###-###-####, she could not find my file for quite some time. She said they could only lower my monthly payment for 10 days to $99 but could not give me any extensions and that if I did not have the funds, they would come after me with a $3,500 fine. I asked [redacted] to send me something showing how much I owed so I could ask a family member to help me pay this off. She told me that they do not provide any paperwork or statements. She also would not tell me how much I owed. I asked her if this was a scam and she hung up on me. I tried her number and [redacted] as well as email him multiple times trying to work something out. No response. I sent [redacted] a very harsh email asking for some help and he finally responded with the contact info for [redacted] and said he would help me. I reached out to [redacted] 9 times in email and 14 times by phone before he finally got back to me. His only option was another loan. I took it because I was so fearful of the $3500 fee if I couldn't make my nightly payments. I asked him if I would get paperwork this time or statement updates because that scared me and upset me before, he said I would. I have not received anything. They took half of the new 5000 loan to pay off the previous one, and this will cost me a total of 9000 to pay off. I think these fees are excessive! I once again am in a spot where I need an extension or help with the funds or a general idea of where myaccount is at, and I cannot get a hold of anyone. I am certain if I wanted another loan, I would get in touch with someone right away. The fees don't seem legal to me, the fact that they send no paperwork or statements doesn't seem legal to me and not being able to talk to anyone about my account is just wrong. This is a company of excessive rates and fees and no customer service. It is a viscious cycle in which you will forever be needing to take more and more loans just to keep up. I own a successful insurance agency, but have found myself in absolute financial turmoil over the past 6 months working with them. I have to get another loan, sell the business, or risk the fee of $3500 because no one will even talk to me. It is so sad that a company that says they help small businesses are really just out to bankrupt them and keep them down. As if small business in America don't struggle enough. I am furious that I cannot get in touch with anyone, or see any statements or information on the status of my account. I have spent hours and many tears trying to find some customer service or information and I get no where. This company is dishonest, disheartening, and disgusting.

Contacts to the 3 people I have ever gotten ahold of in 7 months

###-###-####

F ###-###-#### [redacted]

FORA FINANCIAL

forafinancial.com [redacted] | [redacted]r

T ###-###-####

F ###-###-####

E [redacted]

###-###-####Desired Settlement: I want a copy of my statements so I can look over them and see the legality of them. I would like to see the fees and rates I am incurring. I want someone to answer their phones or emails and discuss my account with me. They have made thousands of dollars off of me and I cannot see in writing why, where or how it is justified. I want explanation of fees or I will seek legal action.

Business

Response:

Dear [redacted] Thank you for taking the time to speak with me and Iapologize for the misunderstanding that you had with one of our trustedpartners. Our partners are an extensionof our brand and as such, we expect them to provide the same outstanding levelof customer service that we provide. On June[redacted], I contacted [redacted] at Fast Business Funding, the partner to whichwe forwarded your application and who provided your small business financing,and he indicated that he would be more than happy to provide you with a payoffamount as well as documentation reflecting the amount that you’ve paid-in thusfar. Also on June [redacted], Iprovided his telephone number to you and am providing it here again; [redacted]

[redacted]. As we were not a party to yourtransaction with Fast Business Funding, Fora Financial does not have anyinformation regarding your transaction with them. Should you have any further questions,comments or concerns, please don’t hesitate to reach me at ###-###-####,extension [redacted].

Review: Was sent unsolicited credit card from business, when tried to call no number was available except the number to activate the aforementioned credit card, was worth $200,000 available with my name, our home, and the credit card number and the activation code and expiration date all visible because the machine at the post office pressed down and allowed all to be pressed into the envelope, they wonder why crooks get away with all the identity theif when they hand to them.........I am [redacted] this company is so stupid and involved us.Desired Settlement: No more contact with this establishment!!!!!

Business

Response:

Dear [redacted], The mailing that you received was apromotional marketing piece inviting you to apply for our small businessfinancing products per the terms and conditions present on the front and backof the piece. The numbers that somehowbecame embossed on the outside of the envelope are not associated with any liveor active account. Please be assuredthat we have not received a credit application from you nor have we issuedcredit in your name and/or the name of your business. Per your request, your information has been deletedfrom our databases and you will receive no further communication from us. Should you have any further questions,comments or concerns, please feel free to reach me directly at ###-###-####,extension [redacted], or by email at [redacted]. We apologize for any inconvenience. Sincerely, [redacted]

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,